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10 Cards in this Set
- Front
- Back
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requirements of deed |
s1 LP (MP) 1989 - clear it is a deed - signed by all parties - delivered as a deed |
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conveyance |
can only be done through deed - s52 (4) - if no conveyance through deed = cannot pass = claim in equity |
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short leases |
s54(2) leases of 3 years or less do not need deed -no fine - best rent - in possession |
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rule in s62 |
- s62 not expressly excluded - capable of being easement - diversity of occupation (owed by same person, but separate occupation) - conveyance: through written agreement or deed |
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contract |
s2 LP (MP) 1989 - writing -signed by both parties - contain all express terms |
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legal interests |
s1(1) LPA -enforceable by everyone in unregistered land - transferred and created by deed, or AP |
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equitable interest |
s1(3) LPA - created by contracts |
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mortgage |
an interest in property granted to a lender as security for a loan |
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Unregistered land The Law of Property Act 1925 provides two ways of creating a mortgage. |
1 Mortgage by long lease ("mortgage by demise") subject to a proviso for cesser on redemptionLPA s.85(2) - when debt is repaid lease terminates. 2 "Charge by way of legal mortgage" |
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Registered land |
S 23(1) Land Registration Act 2002 only permits the creation of a legal mortgage by registered charge (must be a deed). S 27(2)(f) LRA 2002 – mortgage must be registered to be legal |
